Basis of Allotment

This Is only an advertisement for Information purposes and not a prospectus announcement

This Is only an advertisement for Information purposes and not a prospectus announcement.

SUDAR GARMENTS LTD.

(Our Company was originally Incorporated as 'Sudar Garments Private Limited' on January 28,2002 under the Companies Act, 1956 with the Registrar of Companies, Mumbai, Maharashtra ('ROC'). The name of the Company was changed to Sudar Garments Limited on conversion into Public Limited Company and a fresh Certificate of Incorporation was obtained from ROC on March 18,2010. For further details of changes in the name and registered office of our Company, please refer the section titled 'History and Certain Corporate Matters' beginning on page 100 of this Prospectus.)

Registered Office: 117, First Floor, Vardhaman Market, Sector -17, Vashi, Navl Mumbai - 400 703, Maharashtra, India. Tel No.: +91 22 27800706/27880994; Fax No.: +91 22 27889239; Website: www.sudargarments.com;
Email: ipo@sudargarments.com
Contact Person: Ms. Sapna Karmokar, Company Secretary & Compliance Officer

BASIS OF ALLOTMENT

PUBLIC ISSUE OF 90,88,000 EQUITY SHARES OF RS. 10/- EACH OF SUDAR GARMENTS LIMITED (THE 'COMPANY' OR THE 'ISSUER') FOR CASH AT A PRICE OF RS. 77/- PER EQUITY SHARE, INCLUDING A SHARE PREMIUM OF RS. 67 PER EQUITY SHARE, AGGREGATING TO RS. 6997.76 LACS (THE 'ISSUE'). THE ISSUE WOULD CONSTITUTE 49.00% OF THE FULLY DILUTED POST-ISSUE PAID UP CAPITAL OF THE COMPANY.

THE ISSUE PRICE IS RS. 77/- PER EQUITY SHARES. THE FACE VALUE OF THE EQUITY SHARES IS RS. 10 EACH.
THE ISSUE PRICE IS 7.7 TIMES THE FACE VALUE OF THE EQUITY SHARES OF THE COMPANY.
THE PROMOTER OF OUR COMPANY IS MR. MURUGAN MUTHIAH THEVAR

This Issue Is being made through the 100% Book Building process wherein upto 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyer ('QIB') Bidders, out of which 5% shall be available for allocation on a proportionate basis to Mutual Funds only and the remaining QIB portion shall be available for allocation on proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not less than 15% of the Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue shall be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received from them at or above the Issue Price.

The Issue opened for subscription on February 21,2011 and closed on February 24,2011. The issue received 4,234 applications for 11,842,443 equity shares resulting in 1.3031 times subscription. The details of the applications received in the Issue from Qualified Institutional Buyers, Non-Institutional and Retail Individual Investors categories are as under: (Before technical rejections)

Category No. of Applications No. of Shares No. of times subscription
A Retail Individual Bidders 4206 7099245 2.2319
B Non Institutional Bidders 26 3965760 2.9092
C Qualified Institutional Bidders 2 777438 0.1711
Total 4234 11842443

Final Demand
The final demand at different bid orices is as under:

Bid Price No. Of Equity Shares % to Total Cumulative Total Cumulative % to total
72 144,180 1.005 144,180 1.005
73 162 0.001 144,342 1.007
74 81 0.001 144,423 1.007
75 93,636 0.653 238,059 1.660
76 162 0.001 238,221 1.661
77 7,355,853 51.297 7,594,074 52.958
CUTOFF 6,745,761 47.042 14,339,835 100.000

The Basis of Allocation was finalized in consultation with the Bombay Stock Exchange Limited ("BSE") on March 04,2011.

A. Allocation to Retail Individual Investors (After Technical Rejections)
The Basis of Allocation to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 77 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 1.2156 times. The total number of shares allotted in Retail Individual Investor category is 5,817,393 Equity Shares to 4,129 successful applicants which includes the spill over portion from QIB Category of 2,636,593 equity shares. The category-wise details of the Basis of Allocation are as under:

Category Number of Applications % to Total Total Number of Equity Shares applied % to Total Number of Equity Shares allocated Ratio Total Number of Equity Shares allocated
81 206 4.94 16,686 0.24 81 9:11 13,689
162 72 1.73 11,664 0.16 133 1:1 9,576
243 41 0.98 9,963 0.14 200 1:1 8,200
324 28 0.67 9,072 0.13 267 1:1 7,476
405 23 0.55 9,315 0.13 333 1:1 7,659
486 7 0.17 3,402 0.05 400 1:1 2,800
567 2 0.05 1,134 0.02 467 1:1 934
648 28 0.67 18,144 0.26 533 1:1 14,924
729 3 0.07 2,187 0.03 600 1:1 1,800
810 9 0.22 7,290 0.1 666 1:1 5,994
891 2 0.05 1,782 0.03 733 1:1 1,466
972 1 0.02 972 0.01 800 1:1 800
1053 1 0.02 1,053 0.01 866 1:1 866
1134 2 0.05 2,268 0.03 933 1:1 1,866
1296 2,093 50.24 2,712,528 38.36 1,066 1:1 2,231,138
1377 5 0.12 6,885 0.1 1,133 1:1 5,665
2025 1 0.02 2,025 0.03 1,666 1:1 1,666
2187 1 0.02 2,187 0.03 1,799 1:1 1,799
2430 1 0.02 2,430 0.03 1,999 1:1 1,999
2511 2 0.05 5,022 0.07 2,066 1:1 4,132
2592 1,638 39.32 4,245,696 60.04 2,132 1:1 3,492,216
2592 1 4:9 728

B. Allocation to Non Institutional Investors (After Technical Rejections)
The Basis of Allocation to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 77 per Equity Share, was finalized in consultation with BSE. This category has been over subscribed to the extent of 1.5907 times. The total number of equity shares allotted in this category is 2,493,169 equity shares to 26 successful applicants which includes the spill over portion from QIB Category of 1,129,969 equity shares. The category-wise details of the Basis of Allocation are under:

Category Number of Applications % to Total Total Number of Equity Shares applied % to Total Number of Equity Shares allocated Ratio Total Number of Equity Shares allocated
2673 1 3.85 2,673 0.07 1,680 1:1 1,680
12960 1 3.85 12,960 0.33 8,148 1:1 8,148
15471 1 3.85 15,471 0.39 9,726 1:1 9,726
15552 1 3.85 15,552 0.39 9,777 1:1 9,777
25920 1 3.85 25,920 0.65 16,295 1:1 16,295
34992 1 3.85 34,992 0.88 21,999 1:1 21,999
38961 2 7.69 77,922 1.96 24,494 1:1 48,988
41553 1 3.85 41,553 1.05 26,123 1:1 26,123
50625 1 3.85 50,625 1.28 31,827 1:1 31,827
51921 1 3.85 51,921 1.31 32,641 1:1 32,641
64881 1 3.85 64,881 1.64 40,789 1:1 40,789
90882 1 3.85 90,882 2.29 57,135 1:1 57,135
114210 1 3.85 114,210 2.88 71,801 1:1 71,801
129762 3 11.54 389,286 9.82 81,578 1:1 244,734
129843 1 3.85 129,843 3.27 81,629 1:1 81,629
249966 1 3.85 249,966 6.3 157,147 1:1 157,147
259200 1 3.85 259,200 6.54 162,952 1:1 162,952
259524 1 3.85 259.524 6.54 163,156 1:1 163,156
259686 2 7.69 519,372 13.1 163,258 1:1 326,516
282366 1 3.85 282,366 7.12 177,516 1:1 177,516
367578 1 3.85 367,578 9.27 231,087 1:1 231,087
909063 1 3.85 909,063 22.92 571,503 1:1 571,503

C. Allocation to QIBs

Allocation to QIBs has been done in consultation with BSE. Mutual Funds were to be initially allocated 5% of the quantum of equity shares i.e. 2,27,200 Equity Shares. However there were no applications from Mutual Funds. The category was subscribed to the extent of 0.17 times and the total number of successful applicants are 2.The undersubscrlbed portion of this category is spllloverto retail category (2,636,593 Equity Shares) and Non-Institutional category (1,129,969 Equity Shares) in the ratio of 35:15 respectively. All the Investors in this category received firm and full allotment.

Category FIIs Banks Mfs Total
No. of Shares 777,438 NIL NIL 777,438

The Board at its meeting held on March 05,2011 has approved the basis of allocation of Equity shares of the Issue and has alloted the shares to various successful applicants.

The CAN-cum-Refund Orders and allotment advice and/ or notices have been dispatched to the address of the investors as registered with the depositories on March 07,2011 and the instructions to Self Certified Syndicate Bank ("SCSBs") have been dispatched on March 07,2011. In case the same Is not received within ten days, Investors may contact at the address given below. The Refund Orders have been over-printed with the Bank Account details as registered, if any, with the depositories. The shares allocated to successful applicants are credited to their beneficiary accounts subject to validation of the account details with the depositories concerned.

The Company Is taking steps to get the equity shares admitted to trading on BSE and NSE on or before March 11,2011.

INVESTORS PLEASE NOTE
This details of the allocation made would be hosted on the website of Registrars to the Offer, Link Intlme India Private Limited at Website: www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrars to the offer quoting full name of the First/ Sole applicant, Serial number of the bid-cum-application form, number of shares bid for, name of the Member of the Syndicate and Place where the bid was submitted and payment details at the address given below:

Link Intime India Private Limited

C -13, Pannalal Silk Mills Compound, LBS Marg, Bhandup - West, Mumbai - 400 078.
Tel.: +91 22 2596 0320; Fax: +91 22 2596 0329; E-mail ID: sul.ipo@linkintime.co.in

Place: Mumbai
Date: March 09,2011
For SUDAR GARMENTS LIMITED
Sd/-
Ms. Sapna Karmokar
Company Secretary and Compliance Officer

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF SUDAR GARMENTS LIMITED.
Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the prospectus

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